Inside INdiana Business

Indy venture studio achieves B Corp status

NEXT Studios is based out of HqO at 16 Tech in Indianapolis. (photo courtesy of 16 Tech)

INDIANAPOLIS (Inside INdiana Business) — Indianapolis-based NEXT Studios says it has been designated as a Certified Benefits Corporation, or B Corp. The venture studio says it is the first of its kind to receive the designation in Indiana.

According to B Lab, which awards the designations, Certified B Corporations are businesses that meet “high standards of verified performance, accountability, and transparency.” NEXT Studios says B Corps work toward reduced inequality, lower levels of poverty, a healthier environment, stronger communities, and the creation of more high quality jobs.

“Achieving B Corp status was part of our initial charter, as its indicative of our culture,” NEXT Studios Managing Entrepreneur John McDonald said in a news release. “We are all about creating pathways for underserved entrepreneurs to join the innovation economy.”

The venture studio says it provides an alternative to the traditional accelerator system for entrepreneurs to help them get their ideas off the ground.

NEXT Studios launched in August 2020 and currently operates out of the HqO innovation hub in the 16 Tech Innovation District near downtown Indianapolis.